The markets are looking positive for automakers in the early part of Tuesday, as traders are looking to extend recent rallies in these three companies.
The markets look a little perky in the morning, with Tesla looking very much likely to continue to rally, perhaps heading to the $440 level. That being said, I think this is a market that short-term traders will continue to jump in on short-term dips with the 200-day EMA offering a bit of support. To the upside, the $450 level has been resistance, I just think we’re going to try to grind back to the upside there.
Ford is at an interesting area, it’s a place that’s been very noisy previously, it does look like it’s trying to bounce at the $15 level, so I think it is probably going to be likely to see buyers if we get more risk opportunities out there and risk appetite present themselves. I think Ford will take advantage of it, more along the lines of a rising tide lifts all boats type of attitude here. I have no interest in shorting Ford at this point.
GM is in the midst of trying to break out of a massive bullish flag that would measure for about $12 move, perhaps as high as $97. $97 is a far distance from here, I think this is a market that could very well continue to climb in that direction. You can see it’s been in a fairly reliable uptrend since the end of 2023 and again started to rally in the middle of 2025, so this is a market that I think, given enough time, does in fact take off to the upside. It may see a little bit of noise just above here, but once it breaks loose, it’s really going to take off.
If you’d like to know more about technical analysis and how traders use it, please visit our educational area.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.